Rokos Capital Management LLP acquired a new stake in shares of FedEx Corporation (NYSE:FDX – Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 20,630 shares of the shipping service provider’s stock, valued at approximately $7,350,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Hollencrest Capital Management purchased a new stake in shares of FedEx in the first quarter worth about $25,000. Bayban purchased a new position in FedEx during the first quarter valued at approximately $26,000. EFG International AG acquired a new position in FedEx in the fourth quarter valued at approximately $27,000. Wealth Watch Advisors INC acquired a new position in FedEx in the third quarter valued at approximately $28,000. Finally, Tucker Asset Management LLC purchased a new stake in FedEx in the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.
Analysts Set New Price Targets
FDX has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price objective on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 17th. Evercore set a $165.00 target price on shares of FedEx in a research note on Friday, June 26th. UBS Group lowered their price target on shares of FedEx from $445.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Citizens Jmp started coverage on shares of FedEx in a research report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 price target on the stock. Finally, Bank of America lifted their price objective on shares of FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $350.54.
Insider Activity
In other news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the sale, the director owned 16,359 shares of the company’s stock, valued at $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is currently owned by company insiders.
FedEx Trading Down 1.4%
Shares of NYSE:FDX opened at $310.54 on Tuesday. The business’s 50 day moving average price is $334.80 and its 200-day moving average price is $350.44. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $345.36. The firm has a market capitalization of $73.47 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 1.62 and a beta of 1.29. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44.
FedEx (NYSE:FDX – Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The company had revenue of $23.26 billion during the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. On average, equities research analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.
FedEx Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were given a $1.22 dividend. The ex-dividend date was Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. FedEx’s dividend payout ratio (DPR) is 26.36%.
FedEx Profile
FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.
FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.
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